The Many Faces That Make Up Downtown

Downtown Richmond's residential growth has helped drive city-wide population growth in Richmond and signals a fast-changing and vibrant downtown, one that not only has a working population in the daytime but also activities and people around throughout the day.

Explore downtown RVA's commercial facts and figures here!

Downtown Richmond Demographics

  • 51% of downtown Richmond homeowners are white and 49% are non-white.
  • 86% of downtown Richmond's residents are renters
  • Today, 40% of downtown Richmond’s residents are between 18-24 and 30% of residents are between 25-34.
  • The downtown Richmond residential population is well-educated with 57% having a Bachelor’s Degree or higher – up from 40% in 2010 and 40% are enrolled in college
  • On average, downtown workers earn more than workers citywide or regionwide, largely due to the concentration of knowledge jobs. 60% of downtown workers earn at least $3,333 per month, compared to 54% in the city and 49% in the region.
  • The median income increased from $33,500 in 2015 to $39,000 in 2018.
  • About 37% of households downtown and in the city report middle-class incomes.
  • On average, downtown residents emit 25% fewer emissions than city residents.

Downtown Richmond Market Data

  • Downtown has seen outstanding residential growth since 2000. Population more than doubled, rising from 9,800 in 2000 to 20,600 in 2018, for a 110% increase during a period when the city grew by only 13% and the region by 24%.
  • The private sector employs 66% of jobs in downtown Richmond (50,910 jobs) and knowledge industry jobs account for 35,100 jobs.
  • Richmond leads the list of “established downtowns” in the IDA Study with 63% of Richmond’s knowledge industry jobs, relatively higher than the downtowns in Seattle (58%), Minneapolis (58%) and Miami (52%).
  • The IDA study finds that not only does Richmond’s downtown account for a significant proportion of the region’s jobs, but the city’s core experienced the region’s biggest percentage spike in residential population growth since 2000.
  • As a regional jobs center and leader in workforce development, downtown brings more than 40,000 workers from surrounding counties into Richmond.
  • About a quarter of downtown workers (18,835 employees) live in the city, but the remainder come from across the region.

Explore downtown RVA's development over the years here!
Downtown Richmond Demographics & Market Data

Richmond Demographics

  • More than 52% of the Richmond population are women
  • RVA has a “prime working age” of 25-54 years
  • 45.9% White
  • 48.8% Black/African American
  • 6.7% Latino or Hispanic
  • 9.2% Language other than English spoken at home
  • 84.5% High school graduate or higher, age 25+
  • 37% Bachelor’s Degree or higher age 25+

Richmond Market Data

  • 25-minute is the average commute time
  • 58.75°F (14.9°C) is the average temperature of the Richmond Region
  • RVA's cost of living is 95/100 - 5 points lower than the U.S. average
  • There are 9 historic districts in downtown Richmond alone
  • Median household income: $42,356
  • Media gross rent $942
  • Men-owned firms: 9,180
  • Women-owned firms: 7,426
  • Minority-owned firms: 6,859
Find more information regarding downtown's development here!